Key Points
BWX Technologies currently holds a clear advantage over Oklo, as it has maintained consistent, measurable revenue growth across recent reporting periods.
BWX Technologies is an established nuclear energy company with steady revenue growth while Oklo is a pre-revenue company with strong collaborations with the U.S. government.
Investors should watch whether the two companies maintain this wide revenue gap or if the baseline trend begins to shift noticeably in upcoming quarters.
Oklo: Remaining in a Pre-Revenue Stage
Oklo ((NYSE:OKLO) primarily designs and develops advanced fission power plants to provide commercial-scale energy and offers specialized nuclear fuel-recycling services.
Among its recent developments, OkloIt formed a joint venture with Centrus Energy(NYSE:LEU) and announced a share sale to raise funds, while reporting negative free cash flow (FCF) of $50.7 million for the quarter ended March 31, 2026.
BWX Technologies: Generating Consistent Revenue
BWX Technologies(NYSE:BWXT) manufactures precision nuclear components mainly for the U.S. Army, manages environmental site restoration projects, and supplies medical radioisotopes for diagnostic and therapeutic uses.
It recently agreed to acquire Precision Components Group and secured new naval procurement contracts, while reporting a gross margin of about 23% for the quarter ended March 31, 2026.
Why Revenue Matters for Investors
Revenue here refers to the data provider's standardized income-statement revenue line item, and it serves as the critical foundational metric that shows investors exactly how much money flows into a business before any operating expenses or taxes are deducted.
Quarterly Revenue for Oklo and BWX Technologies
| Quarter (Period End) | Oklo Revenue | Bwx Technologies Revenue |
|---|---|---|
| Q2 2024 (June 2024) | $0.00 | $681.5 million |
| Q3 2024 (Sept. 2024) | $0.00 | $672.0 million |
| Q4 2024 (Dec. 2024) | $0.00 | $746.3 million |
| Q1 2025 (March 2025) | $0.00 | $682.3 million |
| Q2 2025 (June 2025) | $0.00 | $764.0 million |
| Q3 2025 (Sept. 2025) | $0.00 | $866.3 million |
| Q4 2025 (Dec. 2025) | $0.00 | $885.8 million |
| Q1 2026 (March 2026) | $0.00 | $861.1 million |
Data source: Company filings. Data source: Company filings. Data as of May 28, 2026.
Foolish Take
Both Oklo and BWX Technologies operate in the rapidly expanding nuclear energy sector, driven mainly by unprecedented demand for power from artificial intelligence (AI) data centers, electrification, and reshoring.
Oklo is involved in several nuclear pilot programs of the Department of Energy (DOE) and is also developing nuclear fuel recycling facilities. That gives the company a strong competitive lead with several opportunities ahead, since its fast-fission plants can run on both fresh and used nuclear fuel, and the U.S. government is keen on converting its Cold War-era plutonium stockpile into usable nuclear fuel.
Oklo, however, is yet to build its first reactor and generate revenue. BWX Technologies, on the other hand, is an already established player with a jaw-dropping $8.7 billion in backlog as of the first quarter of fiscal year 2026. That is why if I were to choose between Oklo and BWX Technologies today, I would buy BWX stock.
BWX Technologies powers the U.S. Navy’s submarine and aircraft carrier fleet and holds a near monopoly in that area. Just weeks ago, it won $1.4 billion in contracts for the U.S. under the U.S. Naval Nuclear Propulsion Program. These contracts should keep coming, given the company’s monopoly, and that will reflect in its ever-growing backlog and sales.
BWT Technologies expects to generate $3.75 billion in revenue in 2026. Importantly, its Precision acquisition is a significant step toward diversifying, as it expands BWX’s capabilities into commercial nuclear manufacturing. I believe that’s a big growth move and makes this nuclear energy stock even more compelling for the long term.
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Neha Chamaria has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends BWX Technologies. The Motley Fool has a disclosure policy.
